Forbes published its annual billionaires list Tuesday and for the first time in years, hedge fund manager Ken Griffin is not the richest person in Illinois.
That’s because Griffin, 54, is now the richest person in Florida after moving his investment firm Citadel from Chicago to Miami last year. Griffin ranks 35th among the world’s 2,640 billionaires with a net worth of $35 billion, according to Forbes.
While Griffin’s fortune increased by nearly $8 billion, it has been a tough year for billionaires overall. A falling stock market and rising interest rates left more than half of the world’s wealthiest worth less than in 2022, with a few notables falling off the billionaires list completely.
French fashion and cosmetics magnate Bernard Arnaul topped the list at $211 billion, supplanting Elon Musk, whose net worth fell to $180 billion. Musk’s $39 billion decline was fueled by plummeting shares in his EV automaker Tesla and his $44 billion acquisition of Twitter.
Illinois still has 24 billionaires worth over $102.5 billion, according to Forbes.
Topping the Illinois list is Lukas Walton, 37, the grandson of Walmart founder Sam Walton. Walton, who ranks 74th with a net worth of $21.2 billion, is the CEO and founder of Chicago-based Builders Vision, which invests in clean energy, sustainable food and other environmental causes.
The next wealthiest is Patrick Ryan, the founder and retired CEO of Aon Corp., who ranks 261st with a net worth of $8 billion. Ryan, a Northwestern alumnus, has donated $480 million to help fund a proposed new football stadium for his alma mater in Evanston.
Chicago real estate investor Neil Bluhm, whose holdings include Rush Street Gaming, which built and operates Rivers Casino, is ranked 425th with a net worth of $6 billion.
Other Illinoisans on the list include: Thomas Pritzker and Mark Walter at $5.3 billion each (No. 497); Beanie Babies creator Ty Warner and real estate investor Sam Zell at $5.2 billion each (No. 511); and Morningstar founder and Chicago Fire owner Joe Mansueto at $4.4 billion (No. 624).
Gov. J.B. Pritzker, an heir to the Hyatt Hotel fortune, ranked 787th with a net worth of $3.6 billion.
Notable national figures on the list include Donald Trump, who became the first former president to be arrested on criminal charges Tuesday for his alleged role in the payment of hush money to porn star Stormy Daniels. Trump’s fortunes have fallen on the business front as well, according to Forbes.
Trump dropped 205 spots to 1,217 on the list with a net worth of $2.5 billion — down $700 million from 2022. Forbes cited a soft New York real estate market and Truth Social, Trump’s struggling social media app, as contributing to the valuation decline.
Trump has still fared better financially than the 254 people who fell off the billionaires list entirely, including FTX founder Sam Bankman-Fried, Patagonia founder Yvon Chouinard and musician Kanye West.
